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Bitcoin passes $200 mark

Talk about liquidity. Watch buyers absorb $400k in less than 15 seconds at $200/BTC.

posted by Khuong in [Finance] and have No Comments

Another Flash Crash at Mt. Gox

Something’s fishy over at Mt. Gox. This morning before taking my jog the prices for Bitcoins was stable at around $17.70 US per coin. After coming home from lunch, Twitter and Reddit were buzzing about a flash crash. I missed a good opportunity to buy them cheaply (some  readers confirmed that their orders were filled at $1). There could be another flash crash with this kind of volatility.

The birth of a new currency is a messy thing.

[Edit]: Mt. Gox is back up. Official statement here.

What doesn’t kill bitcoin only makes it stronger. I suspect they’ll implement more protections in the system.  The bandits only made off with $1000 due to daily withdrawal limit but not much more.

posted by Khuong in [Finance],[The Web] and have No Comments